Former IPL Chairman Lalit Modi has been acquitted in the case related to the 2009 Indian Premier League held in South Africa. The Appellate Tribunal under SAFEMA overturned the penalties imposed on him, dismissing the Enforcement Directorate’s argument that the foreign remittances were capital account transactions.
After over 16 years of investigations and legal battles, Lalit Modi revealed that the tribunal determined the remittances for IPL 2009 as current account transactions. It also absolved him of any responsibility for the BCCI’s FEMA compliance or financial authority alleged by the Enforcement Directorate.
This verdict marks the conclusion of a prolonged legal dispute stemming from the 2009 IPL in South Africa, according to Lalit Modi. He maintained his innocence throughout the process, asserting that his actions were in the best interest of Indian cricket and the IPL, with no personal misconduct.
Expressing relief at the tribunal’s decision, Lalit Modi highlighted the extraordinary circumstances that led to moving the tournament to South Africa due to India’s general elections. He credited the successful staging of the season for ensuring the survival and growth of the IPL as a premier sporting entity globally.
Throughout the legal proceedings, Lalit Modi emphasized his cooperation and confidence in the judicial system. He thanked his legal team, family, friends, and supporters for standing by him during the extensive legal battle, spanning more than a decade.
Describing the ruling as a validation of due process and legal scrutiny, Lalit Modi stressed the importance of evidence-based judgment. He viewed the verdict not just as a personal victory but as a reaffirmation of the principles of justice and law after a lengthy legal process.
Looking forward, Lalit Modi stated that he is shifting his focus towards future endeavors in global sports, business, and philanthropy. He expressed gratitude and dignity in moving past this chapter, leaving behind the legal turmoil with a sense of closure and optimism.
